ExxonMobil/Statoil To Develop Julia Field

ExxonMobil and Statoil plan to develop the Julia Field in the Gulf of Mexico. The partners each own 50% percent of the field with ExxonMobil the operator. Julia will be a subsea tieback to the Jack and St. Malo floating production platform located 15 miles away which is operated by Chevron U.S.A. Inc.

Statoil also is a co-owner in the Jack and St. Malo developments, sanctioned in 2010. Drilling operations will start in 2014 and production start-up is planned for 2016. The lifetime of the Julia field is estimated at40 years.

The field, located 200 miles south of New Orleans, was discovered in 2007 and is estimated to have nearly 6 billion bbls of resource in place.